Press Release: Real Capital Solutions Purchases Luxury Apartment Community in Watford City, North Dakota
Town of Watford Growing Rapidly and Investing in the Community
July 12, 2019 – Real Capital Solutions is proud to announce the purchase of the Plantation at Hunter’s Run Apartments located in Watford City, ND. The community is a six-building complex of 202 units built in 2015. The onsite amenities feature a 24-hour fitness center, clubhouse, leasing office, pet station, dog park and barbeque picnic area. The occupancy of the apartment community exceeded 96 percent at the time of purchase.
Watford City is the largest city in McKenzie County, North Dakota. McKenzie County is situated at the core of the energy development in western North Dakota and accounts for 40 percent of drilling rigs, 40 percent of oil, and 50 percent of the gas production in the Bakken area. As the price of oil has climbed in recent years, there has been rapid growth re-entering the market as more oil producers have come back to the area. Watford City is expected to capture a larger share of the projected growth than any other city in McKenzie County.
“We are very excited with the new purchase of this apartment community and the momentum the region is seeing toward sustainable growth,” said Austin Koo, Director of Multifamily Acquisitions. “This is the third apartment community acquisition we have made within the last seven months in northwest North Dakota and we are glad to see both private and public investment going into the region,” continued Koo.
Due to the increase of population and expected oil and gas investments over the next couple of years, Watford City is acutely focused on creating sustainable growth. In January 2019, the City of Watford released a Capital Improvement Plan, which outlines how the city plans to upgrade or expand city infrastructure in water systems, wastewater systems, and transportation. The city also plans to build two new elementary schools and an expansion for their middle school.
Real Capital Solutions purchased the Fair Hills Apartments and the South Ridge Luxury Apartments both located in Williston, North Dakota in December 2018, totaling 742 units. The two cities are located less than 50 miles apart. Real Capital Solutions also invested in two industrial centers in July 2019 located in Minot and Williston, North Dakota.
The Plantation at Hunter’s Run Apartments offer one, two, or three-bedroom floorplans and are available as furnished or unfurnished. Residents enjoy access to private garages, private balconies, espresso cabinets, stainless steel appliances, designer lighting, vinyl wood flooring, and full-size washers and dryers. The apartment community is close to every popular attraction including the Fox Hills Golf Course, Theodore Roosevelt National Park, and the Rough Rider Center to name a few.
About Real Capital Solutions
Real Capital Solutions is a highly entrepreneurial real estate company that invests smart capital and provides practical solutions for real estate opportunities. For over 30 years, RCS has achieved great success investing in entrepreneurial real estate ventures. During that time, the company has purchased and managed more than 365 real estate investments totaling approximately $3.5 billion. Real Capital Solutions’ investment performance is a result of a solutions-oriented approach to property acquisition, development, management and divestiture. RCS will continue to produce exceptional returns for its investors by working with operating partners that share the same entrepreneurial drive and operational precision in order to achieve extraordinary performance. Learn more at https://realcapitalsolutions.com.
Our Mission at Real Capital Solutions includes a strong focus on giving back. Marcel Arsenault, CEO and Founder, and his wife, Cynda Collins Arsenault, have endowed three foundations during the past decade, including the One Earth Future Foundation in Broomfield, Colorado. One Earth Future seeks to develop and operate multi-level, multi-stakeholder engagement to bring empirical solutions to global problems. Learn more at https://oneearthfuture.org/.
The Plantation at Hunter’s Run Apartments offer one, two, or three-bedroom floorplans and are available as furnished or unfurnished.